06 January 2021
Visiongain has published a new report on Geothermal Power Market Report 2021-2031: Forecasts by Resource Type (Convective Hydrothermal, Sedimentary Basin, Geo-pressured, Radiogenic, Solidified Hot Dry Rock, Part Still Molten Magma, Other Resource Type), by Technology (Ground Source Heat Pumps, Direct-Use Geothermal, Deep Geothermal Systems, Enhanced Geothermal Systems), by End-use (Residential, Commercial, Industrial, Other End-User), by Power Station Type (Flash Steam Power Stations, Dry Steam Power Stations, Binary Cycle Power Stations) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Geothermal Power Companies AND COVID-19 Recovery Scenarios.
How Low Power Generation Cost of Geothermal is Driving the Market?
Low operating costs associated with geothermal electricity generation drove the market during the historic period. Operating and maintenance costs for a geothermal plant ranges from $0.01 to $0.03 per kilowatt-hour, whereas for fossil fuel power plants it ranges from $0.20 to $0.04 per kWh and for nuclear it ranges from $0.02 to $0.05 per kilowatt-hour. Low operating costs associated with geothermal power encouraged many companies to invest in this market, contributing to the market growth.
Which Technologies are in Demand for Geothermal Power Generation?
The geothermal power market is expected to benefit from the development of latest technologies such as enhanced geothermal system (EGS) and hybrid power plants. In EGS, heat is extracted by injecting water in to the subsurface through wells, under carefully controlled conditions. Injected water is passed through hot rocks and pumped back to the surface. Steam from the hot water is passed through a turbine to generate electricity.
Should be Care for Environment for the Cost of Cheap Power?
Geothermal fluids contain a variable quantity of gases, largely nitrogen and carbon dioxide, with some hydrogen sulphide and smaller proportions of ammonia, mercury, radon and boron. The amounts depend on the geological conditions of different fields. Most of the chemicals are concentrated in the disposal water which is routinely re-injected into drill holes and thus not released into the environment. The concentration of the gases is usually not harmful and they can be vented to the atmosphere. Removal of hydrogen sulphide released from geothermal power plants is mandatory in the USA and Italy.
The comprehensive report offers market estimation and forecast for the period ranging 2021-2031 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of Global Geothermal Power.
• Kenya Electricity Generating Company Limited
• Electra Therm Inc.
• Ormat Technologies, Inc.
• Ansaldo Energia
• General Electric Company
• Toshiba Corporation
• Fuji Electric Co., Ltd.
• Halliburton Company
• Enel SpA
• John Wood Group PLC
• Calpine Corporation
• Terra-Gen Company
• Berkshire Hathaway Energy
• Mitsubishi Heavy Industries Limited
• Chevron Corporation
• PT Pertamina Geothermal Energy
• Innergex Renewable Energy Inc.
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Low operating costs associated with geothermal electricity generation drove the market during the historic period. Low operating costs associated with geothermal power encouraged many companies to invest in this market, contributing to the market growth.
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